Category: Munich RE

Countermotion: Loopholes for coal

Countermotion on Agenda Item 3

Motion:

The Association of Ethical Shareholders Germany moves that approval for the actions of the members of the Board of Management not be given.

Reasons:

Munich Reinsurance Company’s Board of Management is not sufficiently fulfilling its duty to take more effective action to protect the climate.

Loopholes for coal

Munich Re has stopped (re)insuring coal-fired power plants and mines since 2018, but only at the level of individual projects. Its coal exclusion does not apply to collective reinsurance arrangements, referred to as treaty reinsurance, in which entire books are reinsured. It therefore can still cover risks involving coal-fired power plants, mines or infrastructure. Weiterlesen

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